The Importance of Flexibility as An Entrepreneur

Succeeding in the business world requires knowledge and skills, but more importantly, one needs to have the right attitude. One of the traits that give entrepreneurs a competitive edge is a flexible mindset. In order to adapt to the ever-changing business environment and cater to evolving customer needs, flexibility is crucial. Entrepreneurs with a flexible approach do not fear change and are able to seize new opportunities. If one marketing strategy fails, they are willing to try out another and are able to use any situation to their advantage. As Tony Robbins has aptly said, “Stay committed to your decisions but flexible in your approach.”

Adopting flexibility in work, mental capacity, and time promotes growth, saves money, and helps attract and retain talent and customers. But flexibility isn’t a straightforward term to grasp. Is it just timewise … or physical perhaps? Here is a look at some of the most vital traits of flexibility as a prosperous entrepreneur.

Physical Flexibility

Being a successful entrepreneur comes with its share of stress and pressure due to endless working hours, high expectations, and multiple responsibilities. However, one crucial element of having a steady career is taking care of health and fitness. As Josh Steimle, entrepreneur and author, states:

“If I were to stop exercising because I felt that being a good business owner was a higher priority, then ironically, I would end up a worse business owner than I was when it was a lower priority.”

Extreme stress, excessive traveling, and poor sleep can cause problems like obesity, high blood pressure, and mental health disorders like chronic anxiety. As a result, inculcating physical flexibility is vital to career longevity. An entrepreneur with a flexible attitude realizes the importance of taking short breaks to move the body while working for prolonged hours. He/she realizes that looking away from computer screens and taking time off for meditation and relaxation is vital to reenergize and focus.

Organizations that regularly schedule outdoor team activities, outings, and games promote a holistic work culture. It comes as no surprise that workspaces with an indoor gym and on-site fitness centers are preferred by employees as the focus has shifted to maintaining a healthy work-life balance that prioritizes physical wellbeing.

Cognitive Flexibility

ScienceDirect explains cognitive flexibility as a critical executive function that can be broadly defined as the ability to adapt behaviors in response to changes in the environment. It refers to the ability to switch between thinking about two or multiple concepts simultaneously.

For example, one may recognize the name Nigel Eccles and Rob Jones as co-founders of iGaming brand, FanDuel, which is routinely listed among the most popular new online casinos in the US. Despite their industry triumphs, the two have now launched a new NFT platform called ‘Vault’, evidencing their flexibility in exploring new business ideas and adapting to current trends.

Time Flexibility

We live in an age of rapid technological growth where businesses are dynamic and evolving. More and more entrepreneurs want to optimize the use of time according to their priorities and preferences. From setting daily schedules and fixing work hours to taking breaks and holidays to spend time with loved ones, having time flexibility prevents burnout in today’s hustle culture.

The ability to work remotely saves commute time and physical and mental energy, which can be utilized to boost efficiency. Richard Branson, founder of the Virgin group, is a major advocate of time flexibility and encourages the idea of flexible work arrangements. According to Branson, recharging and reconnecting with friends and family promotes a better work-life balance. The CEO is a firm believer in flexible work-from-home options and states:

“It’s easier to attract top talent when you are open and flexible.”

The quintessential trait of successful entrepreneurs is that they are self-motivated and fiercely independent in their approach. Thus, the ability to determine their work environment and timings enables them to remain productive and creative.